I love today’s action. Gap up to burn the shorts, fade to burn the bulls that chased. The only winners were those who loaded up on Friday, which I did.
I think this consolidation could look similar to the one that took place in February. Once I see what tomorrow looks like, we’ll chart some comparisons. At the moment, the charts I am watching closely are…
Watching a possible reversal pattern setting up in the $SSEC, which almost never goes up.
This is an important balance area in Copper.
Also watching this conviction move in the Z’s.
The stocks I am watching most closely right now are the rare earth plays. They look to be actionable this week.
I usually sit out days like today, but love to trade the day following moves like this. Momentum is much easier to capture. If these Rare Earth’s see a little strength, they might see a quick pop to recent highs.
Disclaimer: Just because I blog about a stock or a trade, does not give you the right to go out and lose money in it. In fact, it prohibits it.
If you enjoy the content at iBankCoin, please follow us on Twitter
Thanks for all of your input to the blog.
How does the STV play align with your SSEC take, if at all?
I scratched STV today as well as selling IVAN. I booked AMZN gains and took an AAPL long. That pretty much sums up my existence today.
Actually, I also got a haircut and two double steak bowls from Shitpotle.
FCX long term chart looks like $30 has been decent spot for support… Daily chart looks kind of ugly tho but…
I am holding SCCO around these prices for a longer term play.
Good idea.
I remember when it was ticker symbol PCU!
By the way… Nice Charles Barkley Reference!
Man that’s Turrible!
SCCO! Does it still pay a good divi? Waiting on the Deck setup to come off a low. Other than that BIDU has been very good to me if you let her rip above 98 and buy back below 94.5.